Mercury Systems, Inc. (NASDAQ:MRCY) Given Average Recommendation of “Reduce” by Analysts

Shares of Mercury Systems, Inc. (NASDAQ:MRCY) have been given an average recommendation of “Reduce” by the eight ratings firms that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $33.50.

Several equities research analysts recently weighed in on MRCY shares. StockNews.com raised Mercury Systems from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. Royal Bank of Canada increased their price target on shares of Mercury Systems from $30.00 to $35.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 14th. Alembic Global Advisors raised Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 price objective on the stock in a report on Monday, August 19th. Truist Financial increased their target price on Mercury Systems from $26.00 to $31.00 and gave the stock a “hold” rating in a research note on Wednesday, August 14th. Finally, Robert W. Baird lifted their price target on Mercury Systems from $26.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th.

Mercury Systems Stock Down 2.3 %

MRCY stock opened at $35.44 on Friday. Mercury Systems has a 12 month low of $25.31 and a 12 month high of $42.72. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.07 and a quick ratio of 2.64. The company has a market cap of $2.10 billion, a price-to-earnings ratio of -15.08 and a beta of 0.70. The company has a fifty day moving average price of $36.74 and a 200 day moving average price of $32.30.

Mercury Systems (NASDAQ:MRCY) last announced its earnings results on Tuesday, August 13th. The technology company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.32. The business had revenue of $248.56 million during the quarter, compared to the consensus estimate of $223.80 million. Mercury Systems had a negative net margin of 16.48% and a negative return on equity of 4.92%. Sell-side analysts expect that Mercury Systems will post -0.52 earnings per share for the current year.

Insider Buying and Selling at Mercury Systems

In other Mercury Systems news, COO Charles Roger Iv Wells sold 1,346 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $39.49, for a total transaction of $53,153.54. Following the sale, the chief operating officer now owns 130,408 shares in the company, valued at approximately $5,149,811.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Mercury Systems news, COO Charles Roger Iv Wells sold 1,346 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $39.49, for a total transaction of $53,153.54. Following the sale, the chief operating officer now directly owns 130,408 shares of the company’s stock, valued at $5,149,811.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Ballhaus sold 6,549 shares of Mercury Systems stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $39.49, for a total transaction of $258,620.01. Following the sale, the chief executive officer now owns 353,481 shares of the company’s stock, valued at approximately $13,958,964.69. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,099 shares of company stock worth $865,740. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mercury Systems

Institutional investors have recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Mercury Systems during the second quarter worth approximately $3,079,000. Clearline Capital LP boosted its holdings in Mercury Systems by 18.4% in the second quarter. Clearline Capital LP now owns 526,611 shares of the technology company’s stock valued at $14,213,000 after acquiring an additional 81,826 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Mercury Systems by 232.7% during the second quarter. The Manufacturers Life Insurance Company now owns 29,411 shares of the technology company’s stock valued at $794,000 after acquiring an additional 20,571 shares during the period. Dark Forest Capital Management LP acquired a new stake in Mercury Systems during the second quarter worth about $526,000. Finally, Deerfield Management Company L.P. Series C purchased a new position in shares of Mercury Systems in the 2nd quarter worth about $285,000. 95.99% of the stock is currently owned by institutional investors and hedge funds.

About Mercury Systems

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.